PPMA Promotes Young to CIO Spot

Financial service group PPM America recently announced its promotion of Jim Young to chief investment officer.As CIO, Young will oversee all portfolio management, all public and fixed income functions, and will head the credit research group and structured finance teams. In addition, Young will continue to carry out his existing responsibilities as chairman of the firm’s credit approval committee.“The company’s management team relies on constant collaboration and an open exchange of ideas in order to achieve our mission, which is to be indispensable to our clients," said PPMA’s President and CEO Leandra Kres. "Jim has been an integral member of the team for 11 years, and I am confident that his expanded responsibilities will allow him to have an even greater impact on the success of the organization going forward.”Kres previously held the CIO position in addition to her executive responsibilities.PPMA manages approximately $78 billion in assets of mutual funds, unit trusts, and insurance companies. It is a subsidiary of Prudential plc, a company integrated in the United Kingdom.